CaesarStone Sdot-Yam (CSTE) has released an update.
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CaesarStone Sdot-Yam Ltd., a global leader in engineered surfaces, reported a decrease in second-quarter revenue to $119.4 million, but highlighted a significant improvement in gross margin and a strong balance sheet with a net cash position of $97.7 million. The company is focusing on strategic restructuring, cost efficiencies, and market expansion—evidenced by the increased stake in Lioli Ceramica and the sale of land associated with its Richmond Hill Facility. Despite current economic challenges, CaesarStone reaffirms its positive full-year cash flow outlook, while moderating its adjusted EBITDA expectations.
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